PERFORMANCE: Monitor has judged Yeovil District Hospital Foundation Trust is a “high risk” due to recent personnel changes and lack of financial headroom.
The regulator’s annual plan review summary highlighted board stability as a key risk noting that chief executive Paul Mears is relatively new, finance director Libby Walters is leaving, nursing director Sue Jones is on secondment to North Bristol Trust and three new non-executive directors have been appointed.
The review also warned the trust had limited financial headroom which was “particularly concerning as the trust is heavily dependent on revenue generation schemes which are planned to contribute £3m to the bottom line and £5m to cash by year 3.”
It warned this could impact on the development of the Yeovil Health Campus, an integrated acute and community service.
“A key focus of the Trust’s strategic agenda going forwards will be development of the Yeovil Health Campus. Trust expects to submit these plans to Monitor as a significant transaction in circa 12 months time which will require a Tier 2 borrowing limit. This scheme is considered critical to achieving longer term sustainability.”